{"id":6028,"date":"2016-08-31T09:55:44","date_gmt":"2016-08-31T14:55:44","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1054"},"modified":"2016-08-31T09:55:44","modified_gmt":"2016-08-31T14:55:44","slug":"exmadoff-aide-will-help-picard","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/exmadoff-aide-will-help-picard\/","title":{"rendered":"Ex-Madoff Aide Will Help Picard Find Funds Stolen in Ponzi Scheme"},"content":{"rendered":"\n
Annette Bongiorno has settled a civil case brought against her over the millions of dollars she and her husband received from managing Bernard Madoff\u2019s investment advisory business and their investments with him. Her job under Madoff was to manage customer accounts. Prosecutors accused Bongiorno of making false securities trades. Now, she is serving a six-year-prison term for her role in Madoff\u2019s multi-billion dollar Ponzi scam<\/a>.<\/p>\n

As part of the settlement, Bongiorno is obligated to help trustee Irving Picard recover funds stolen from investors as he continues to liquidate Bernard L. Madoff Investment Securities LLC. To date, he has recovered or arrived at deals to recover $11.2B of the over $17B in principal that was stolen. Investors have gotten back almost $9.5B.<\/p>\n

In addition to making herself available to Picard in his ongoing recovery efforts, Bongiorno must, when requested, provide testimony at deposition or trial. Picard, who is the one that sued her for over $22M, will drop the case as long as she continues to cooperate. As part of the settlement, she must pay $3.9M of stock from an account under her husband\u2019s name.<\/p><\/div>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Annette Bongiorno has settled a civil case brought against her over the millions of dollars she and her husband received from managing Bernard Madoff\u2019s investment advisory business and their investments with him. Her job under Madoff was to manage customer accounts. Prosecutors accused Bongiorno of making false securities trades. Now, she is serving a six-year-prison […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792],"tags":[3431],"class_list":["post-6028","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","tag-madoff-ponzi-scheme"],"yoast_head":"\nEx-Madoff Aide Will Help Picard Find Funds Stolen in Ponzi Scheme — Investor Lawyers Blog — August 31, 2016<\/title>\n<meta name=\"description\" content=\"Annette Bongiorno has settled a civil case brought against her over the millions of dollars she and her husband received from managing Bernard Madoff\u2019s — August 31, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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